Displaying items by tag: Acquisition

Spain: Hanson Spain has agreed to sell some of its assets including its Madrid waste management plant to Cemex España. The buyer said that the investments promise a high return and are part of the strategic global strengthening of its vertically integrated positions near high-growth urban centres. It expects the deal to close in early 2022.

Europe, Middle East, Africa and Asia regional president Sergio Menéndez said “This acquisition will allow us to better serve our clients by integrating and complementing our portfolio to provide a comprehensive and sustainable offering in Cemex’s high-growth regions of Madrid and the Balearic Islands.” He added “This is another example of the efforts we make to optimise our portfolio and drive earnings before interest, taxation, depreciation and amortisation (EBITDA) growth through high-yield complementary investments."

Norway: Synthetic fuel producer and chemical waste management specialist Quantafuel has bought a 40% stake in Geminor from Geminor Invest. The owners of Geminor Invest, chief executive officer (CEO) Kjetil Vikingstad and chief operation officer (COO) Ralf Schöpwinkel, will retain a 60% share of Geminor.

Vikingstad said “With Quantafuel as a partner we hope to achieve our goal of becoming a leading player in material recycling and energy recovery in Europe. In collaboration with Quantafuel we want to increase the proportion of plastic for material recycling, and by this actively contribute to a circular economy for plastics in Europe.” He added, “Together, the companies form a value chain from the collection, sorting and treatment of plastic waste all the way to the process of chemical recycling. Plastic will now become more important for Geminor, but the company also has a clear strategy to develop fractions and streams within waste wood, refuse-derived fuel (RDF), solid recovered fuel (SRF) and paper.” He said that the company will continue to develop more sustainable waste fractions and extract more waste plastic for chemical recycling.

Geminor Invest chair Arne Haldorsen said “The international community has major challenges within waste management, especially when it comes to handling ever-increasing amounts of plastic waste. To meet these challenges the waste industry is becoming more industrialised, and new recycling solutions are currently being developed internationally. Geminor wants to be a key player in this process, something we hope to achieve with Quantafuel as a partner and co-owner.”

Norway: The resource management solutions provider Geminor has acquired its competitor Rekom. The latter has outstanding contracts for the management of 0.1Mt/yr of waste, which represent a 20% increase in Geminor’s current workload, the company has stated. It adds Rekom’s logistics and processing facilities in Norway to its own across Scandinavia and in Germany, Poland and the UK. Kjetil Vikingstad, Geminor CEO, said the acquisition, which was not strategically planned, was nonetheless in keeping with the company’s Nordics growth strategy, giving it ‘a company volume which makes it an attractive alternative to municipal companies and recycling facilities for materials recycling and especially for energy recovery.’

Denmark: Germany’s Remondis has purchased a majority stake in environmental services company M Larsen. Remondis runs a network of water management, recycling and industrial services in Northern Europe. M Larsen is a family-owned environmental service companies based in Bröndby near Copenhagen. Following the acquisition, the management team and owner Claus Barslund will remain part of the company.

Netherlands: N+P Recycling has acquired all the shares in Subcoal International as well as Subcoal Production. The move follows the initial purchase of a majority holding in these companies in 2013. N+P has since invested in the development of the Subcoal companies, including work at the Delfzijl production site.

The Subcoal concept was developed in 1998 by DSM but was only fully implemented on a large scale in 2010. Since N+P’s involvement in 2013, the concept has developed globally with demand growing for Subcoal as an alternative fuel used by cement or power plants.

Based on the success of the concept N+P expects a growth of the production capacity to 0.5 – 0.7Mt/yr. The first new production facility is expected in the UK by mid-2018.

Poland: China Everbright International Limited has purchased waste management company Novago for Euro123m including a Euro118m equity purchase and a Euro5m land bank. Everbright lauded the buy as the largest Chinese acquisition in the environmental industry in Central and Eastern Europe and part of China’s One Belt One Road initiative.

“This acquisition serves as an important platform for Everbright International’s overseas development strategy and a solid foundation with strategic significance laid for future expansion in the Central and Eastern Europe market. The business can be further expanded by integrating the group’s advanced waste-to-energy technology and Novago‘s abundant local expertise,“ said Chen Xiaoping, chief executive officer of Everbright. He added that he hoped to bring Novago’s success back to China.

Established in 1992, Novago is the largest independent waste treatment company in Poland. Its business portfolio includes production of refuse-derived fuel (RDF), municipal waste treatment, waste recycling and landfill for biogas production and biogas cogeneration. It holds over a 30% market share in the Warsaw and Olsztyn provinces.

The transaction is conditional upon the issuance of merger clearance by the Poland’s Office of Competition and Consumer Protection.